GT4 Group is the parent company of Blantyre-based Gavin Watson Ltd, which specialises in wet glue label manufacturing for the spirits, coffee, food, water and beverage sectors.
TPL is a pressure-sensitive label manufacturer headquartered in East Kilbride.
The deal was supported with a £5m investment by the Scottish Loan Fund (SLF).
Tom Brown, chief executive of GT4 Group said the acquisition of TPL will extend the breadth of the company’s services by providing its clients with a ‘one stop shop’ for labelling.
He told Packaging News there were no plans to reduce staff as part of any cost synergies. “We will invest in more equipment as well as expanding the shift patterns.”
“We are delighted to have concluded this acquisition, TPL Labels is a well-managed high quality label manufacturer that will fit perfectly into our group, allowing us to offer Pressure Sensitive Labels to our existing client base and extend the reach of the group into new market sectors.”
He added that as wet glue label manufacturing is a specialist market within the packaging sector, adding pressure sensitive labelling to the group’s portfolio will help the business grow.
Gavin Watson employs 70 staff and serves a range of high profile blue chip customers (both UK-based and oversees) including Highland Spring, Nestle, AG Barr, Diageo, and Innocent.
The acquisition of TPL brings a number of new clients to the group, covering a broad range of industries including spirits, beer, automotive, cosmetics, electronics, healthcare and pharmaceuticals.